Industrial production up 1.9% y.o.y. in February
In February 2021 the volume of industrial production grew by 1.9% year-on-year, according to data published by the Central Statistical Office (KSH).
Based on working-day adjusted data production rose by 3.9% compared to February 2020. Industrial output was 4.8% higher, compared to the previous month, according to seasonally and working-day adjusted data.
The majority of the manufacturing subsections contributed to the growth, KSH notes. The manufacture of computer, electronic and optical products grew, at the same time the largest weight representing manufacture of transport equipment dropped to a greater extent, the manufacture of food products, beverages and tobacco declined in a lesser degree.
In the first two months of the year, production was 2.3% lower than in the same period of the previous year.
Industrial output in February – according to seasonally and working-day adjusted indices – was 4.8% above the level of the previous month, and it rose by 67% compared to the nadir of April 2020, surpassing even the pre-pandemic peak.
ADVERTISEMENT
Industrial Production Declines in April
Landmark Budapest Dept Store to Reopen After HUF 8 bln Renov...
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
